With Finance Minister Arun Jaitley in his Budget speech saying India will move to stamp out use of cryptocurrencies, which it considers illegal, it could trigger "panic selling" in cryptocurrencies in India, said Amit Maheshwari, partner at tax consultants Ashok Maheshwary and Associates, news agency Reuters reported. Last month, income tax authorities said they sent notices to tens of thousands of people dealing in cryptocurrency such as Bitcoin after a nationwide survey revealed transactions of more than $3.5 billion over a 17-month period.